MPs Delegation Meet PM on Renewable Energy

According to reports, a delegation of MPs drawn from various political parties today met Prime Minister Manmohan Singh seeking his intervention to make renewable energy an important tool for advancing economic growth and in meeting the rising challenges of energy supply.

In a memorandum submitted to the Prime Minister–the MPs belonging to a green network called Climate Parliament– said use of renewable energy will facilitate eradication of poverty of millions of rural poor and promote a clean and healthy environment.

Climate Parliament is a network of cross-party Members of Parliament, working to accelerate the transition to a low-carbon economy by promoting renewables.

The Group said in a release that Singh has assured them that the he would ask the Ministry of New and Renewable Energy and other concerned Ministries to positively look into the demands of Viability Gap Funding for encouraging private sector investments in enhancement of transmission infrastructure for renewable energy.

Singh also said he would examine the demand for additional central assistance to states which install progressively higher infrastructure for feeding renewable energy-based electricity to the grids and establishing a Partial Risk Guarantee Fund for renewable energy projects and increasing the allocations of Renewable Energy Ministry to 1 per cent of the national budget allocation.

The delegation also emphasized the need to finalise higher cross-border electricity trade targets with neighbouring countries in South Asia based on renewable energy in view of the very high potential of such trade and its strategic geo-political importance.

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It is very clear that Political Class is now meddling in Business activities. VGF is clearly going to give benefit to few large investors and avoidance of Corporate taxes. Instead of VGF assistance, interest subsidy will enable the Government to use the funds ear marked for VGF to create transmission and distribution infrastructure and also make the large investors to remain in the business for a longer period to demonstrate their developed projects for INDIA’s Benefit…..